Animal Humane Society Veterinary Centers PC

“Animal Humane Society files informational returns in the United States federal jurisdiction and in the Minnesota state jurisdiction. In addition, AHS files tax returns in relation to their unrelated business income. As a wholly-owned, non-profit subsidiary, Animal Humane Society Veterinary Centers, P.C files separate informational returns in the United States federal jurisdiction and in the Minnesota state jurisdiction. As a wholly-owned, for-profit subsidiary, Now Boarding, Inc. files separate income tax returns in the United States federal jurisdiction and in the state of Minnesota. Kasota Holding, LLC is a limited liability company that is wholly owned by AHS and is considered a disregarded entity. As such, Kasota Holding, LLC activity is reported on Animal Humane Society's Form 990. All returns for Animal Humane Society prior to fiscal year 2015 are closed. No returns of any entity are currently under examination in any tax jurisdiction. As of June 30, 2020, there were no material amounts of income tax related accrued interest or penalties recognized in either the statement of financial position or statement of activities for AHS, Animal Humane Society Veterinary Centers, P.C., Now Boarding, Inc. nor Kasota Holdings, LLC.”

“The Organization implemented the provisions of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), and ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. The intent of the new standards is to improve the usefulness and understandability of the Organization's financial reporting. ASU 2014-09 provides new revenue recognition standards, eliminating the transaction- and industry-specific revenue recognition guidance and replaces it with a principle-based approach for determining revenue recognition. ASU 2018-08 clarifies and improves existing guidance related to contributions received and contributions made. The presentation and disclosures of revenue have been enhanced in accordance with this standard. Analysis of the various provisions of these two ASU's resulted in no significant changes in the way the Organization recognizes revenue, and therefore no changes to the Organization's 2018 Form 990 were required on a retrospective basis.”